Marvell (MRVL) PT Raised to $98 at Jefferies

'Just Pulled an Nvidia', 'Marvelous', 'Mother of All Cycles': Analysts Heap Praise on Marvell (MRVL) After Earnings, Outlook Beat; Goldman and Cowen Upgrade to Buy

Shares of Marvell Technology (NASDAQ: MRVL) are up more than 21% in pre-open Friday after the company delivered another set of impressive quarterly results.

Marvell reported Q3 EPS of $0.43 to beat the analyst estimate of $0.38. Revenue for the quarter came in at $1.21 billion versus the consensus estimate of $1.15 billion.

"Marvell delivered record revenue of $1.211 billion in the fiscal third quarter, growing 13 percent sequentially and 61 percent year over year, exceeding the high end of our guidance. Revenue grew substantially in each of our five end markets, led by data center, our largest contributor at 41... More

Marvell (MRVL) PT Raised to $115 at B.Riley

B.Riley analyst Craig Ellis raised the price target on Marvell (NASDAQ: MRVL) to $115.00 (from $90.00) while maintaining a Buy rating.... More

Marvell (MRVL) PT Raised to $100 at Susquehanna

Susquehanna analyst Christopher Rolland raised the price target on Marvell (NASDAQ: MRVL) to $100.00 (from $82.00) while maintaining a Positive rating.

The analyst commented, "While we had previewed another beat and raise, we hadnt expected anything this good. Better long-term growth driven by hyperscale custom silicon, 5G and auto."

Marvell (MRVL) PT Raised to $98 at BMO Capital

BMO Capital analyst Ambrish Srivastava raised the price target on Marvell (NASDAQ: MRVL) to $98.00 (from $85.00) while maintaining an Outperform rating.

The analyst commented, "Marvell is not in the habit of providing out-year guidance. In an exception, Marvell expects CY22 growth of ~30%,... More

Marvell (MRVL) PT Raised to $120 at Rosenblatt; 'Just Pulled an Nvidia'

Rosenblatt analyst Hans Mosesmann raised the price target on Marvell (NASDAQ: MRVL) to $120.00 (from $100.00) while maintaining a Buy rating following results.

The analyst commented, "Marvell just pulled an Nvidia on the Street last night, with an unambiguous beat and raise and taking FY23 sales... More

Marvell (MRVL) PT Raised to $100 at Needham & Company

Needham & Company analyst Quinn Bolton raised the price target on Marvell (NASDAQ: MRVL) to $100.00 (from $75.00) while maintaining a Buy rating following results.

The analyst commented, "Marvell delivered impressive results and provided F4Q22 revenue guidance that was well above expectations due to... More

UPDATE: Goldman Sachs Upgrades Marvell (MRVL) to Buy

(Updated - December 3, 2021 7:04 AM EST)

Goldman Sachs analyst Toshiya Hari upgraded Marvell (NASDAQ: MRVL) from Neutral to Buy with a price target of $95.00 (from $63.00).

The analyst commented, "We upgrade MRVL to Buy from Neutral with our updated 12-month price target of $95 (from $63 prior) implying 15% potential upside (based on the AH... More

Marvell (MRVL) PT Raised to $100 at Deutsche Bank

Deutsche Bank analyst Ross Seymore raised the price target on Marvell (NASDAQ: MRVL) to $100.00 (from $76.00) while maintaining a Buy rating.... More

Marvell (MRVL) PT Raised to $110 at Oppenheimer as Enterprise Strength Erases Supply Chain Concerns

Oppenheimer analyst Rick Shafer raised the price target on Marvell (NASDAQ: MRVL) to $110.00 (from $100.00) after the company reported "break out" results and raised guidance. F3Q (Oct) sales/EPS topped the Street consensus by 5%/13% while guidance for F4Q (Jan) topped consensus by 9%/14%.... More

Marvell (MRVL) PT Raised to $100 at Stifel

Stifel analyst Tore Svanberg raised the price target on Marvell (NASDAQ: MRVL) to $100.00 (from $80.00) while maintaining a Buy rating.... More

Marvell (MRVL) PT Raised to $115 at BofA Securities

BofA Securities analyst Vivek Arya raised the price target on Marvell (NASDAQ: MRVL) to $115.00 (from $80.00) while maintaining a Buy rating.... More

Marvell (MRVL) PT Raised to $105 at Credit Suisse

Credit Suisse analyst John Pitzer raised the price target on Marvell (NASDAQ: MRVL) to $105.00 (from $85.00) while maintaining a Outperform rating.... More

UPDATE: Cowen Upgrades Marvell (MRVL) to Outperform

(Updated - December 3, 2021 5:39 AM EST)

Cowen analyst Karl Ackerman upgraded Marvell (NASDAQ: MRVL) from Market Perform to Outperform with a price target of $100.00 (from $66.00).

The analyst comments "Its hard to argue this was anything but a watershed quarter with a... More

Marvell (MRVL) PT Raised to $95 at KeyBanc

KeyBanc analyst John Vinh raised the price target on Marvell (NASDAQ: MRVL) to $95.00 (from $80.00) while maintaining a Overweight rating.... More

Marvell (MRVL) PT Raised to $95 at UBS

UBS analyst Timothy Arcuri raised the price target on Marvell (NASDAQ: MRVL) to $95.00 (from $87.00) while maintaining a Buy rating.... More

Marvell (MRVL) PT Raised to $86 at Morgan Stanley

Morgan Stanley analyst Joseph Moore raised the price target on Marvell (NASDAQ: MRVL) to $86.00 (from $63.00) while maintaining a Equalweight rating.... More

Marvell Technology (MRVL) Stock Gains 14% on Better Than Expected Q3 Results

Marvell Technology (NASDAQ: MRVL) shares were trading more than 14% higher after-hours following the companys reported Q3 results, with EPS coming in at $0.43, beating the consensus estimate of $0.38. Quarterly revenue grew 61% year-over-year to $1.21 billion, compared to the consensus estimate of $1.15 billion. Q3 results... More

Marvell Technology (MRVL) Tops Q3 EPS by 5c

Marvell Technology (NASDAQ: MRVL) reported Q3 EPS of $0.43, $0.05 better than the analyst estimate of $0.38. Revenue for the quarter came in at $1.21 billion versus the consensus estimate of $1.15 billion.

GUIDANCE:

Marvell Technology sees Q4 2022 EPS of $0.45-$0.51, versus the consensus of ($0.42).... More